Updating WWII "War Bond" Model to Spark Job Creation, Energy Security, Clean Energy, and Increased Energy Efficiency
WASHINGTON, D.C.///April 8, 2014///Clean energy boosters on Capitol Hill are
bill – the Clean Energy Victory Bonds Act of 2014. Available in
denominations starting as low as $25, this proposed new U.S. Treasury bond
will enable Americans to invest in the nation's clean energy future.
The bill was introduced by U.S. Reps. Zoe Lofgren (D-Cali.) and Doris Matsui
(D-Cali.) and includes 14 co-sponsors: Rep. Mike Honda (D-Cali.), Rep.
Chellie Pingree (D-Maine), Rep. William Clay (D-Mo.), Rep. Eleanor Holmes
Norton (D-DC), Rep. Judy Chu (D-Cali.), Rep. Steve Israel (D-NY), Re. Matt
Cartwright (D-Pa.), Rep. Mike Quigley (D-IL), Re. Katherine Clark (Mass.),
Rep. Niki Tsongas (D-Mass.), Rep. Carol Shea-Porter (D-NH), Rep. Tony
Cárdenas (D-Cali.), Rep. Lois Capps (D-Cali.), Rep. George Miller (D-Cali.)
and Rep. Rush Holt (D-NJ).
The bill is endorsed by Green America and the American Sustainable Business
Council, which together represent half a million consumers, companies,
organizations, and investors. For more information, go to
Clean Energy Victory Bonds will create the following major benefits:
* Leverage $50 billion investment to provide up to $150 billion in public
and private financing to fund the production of innovative energy
technologies, at a time when the US is falling behind other countries in
clean energy manufacture and installation.
* Help create at least one million competitively-paying jobs in the U.S.
* Support America's clean energy sector, helping to ensure that the U.S.
remains a world leader in this increasingly crucial and competitive
* Reduce U.S. dependence on foreign sources of energy, enhance national
security, and limit price increases and fluctuations.
* Provide a secure, competitive, government-backed investment vehicle for
average Americans and investment institutions alike seeking a safe place for
* Offer flexible redemption options at interest rates superior to most bank
* Help all Americans to invest in the future of their country and benefit
from their investments.
* Promote a cleaner environment through the financing of clean energy
* Protect the health and safety of Americans by reducing local air and water
pollution throughout the country.
Todd Larsen, corporate responsibility division director, Green America,
said: "This bond is modelled after the successful WW II Victory Bond which
millions of Americans purchased. The Clean Energy Victory Bond will provide
individual and institutional investors with the opportunity to invest in
clean energy sectors such as solar, wind, second generation biofuels,
electric vehicles, and residential and commercial energy efficiency
programs. There are currently few investment opportunities for the average
investor interested in supporting the shift to a clean energy economy so
this bond fills a need for both investors and industry."
"From a business perspective, the Clean Energy Victory Bond makes great
sense," said Richard Eidlin, co-founder & policy director, American
Sustainable Business Council. "The clean energy industry has not had the
steady flow of financial support that investors and business need to plan
effectively, resulting in investors often deciding to place their
investments overseas rather than in the US."
Tax incentives for renewable energy come and go, often without
predictability, leaving investors and industry scrambling. The Clean Energy
Victory Bond would extend vital tax credits for a decade, giving emerging
industries the support they need to develop and become increasing
"The Clean Energy Victory Bond also has a key role in protecting human and
environmental health by supporting energy sources that can replace fossil
fuels," added Fran Teplitz, social investing and policy director, Green
America. "Our future well-being depends on developing clean energy. Now is
the time to create a clean energy investment option backed by the full faith
and credit of the U.S. government, one that millions of Americans can buy."
Many business leaders, especially of the small to mid-size businesses that
drive our economy, know that they are ill-prepared to cope with increasing,
extreme weather conditions – one result of carbon pollution from fossil
"From disruption of their supply chain to physical damage to their
workplace, small businesses are exceptionally vulnerable to climate change,"
added Eidlin. "Moreover, the renewable energy and efficiency sectors can
create more long-lasting domestic jobs than the fossil fuel industry and the
Clean Energy Victory Bond promises to create at least a million new U.S.
jobs from coast to coast."
ABOUT THE GROUPS
Green America works to harness economic power—the strength of consumers,
investors, businesses, and the marketplace—to create a socially just and
environmentally sustainable society. The organization has a national
membership of 170,000 consumers and a green business network of 3,000
companies and investment firms screened for the social and environmental
impacts. Green America has a long-standing program dedicated to advancing
our clean energy economy. More information at www.GreenAmerica.org and at
The American Sustainable Business Council (ASBC) and its member
organizations represent more than 200,000 businesses nationwide, and more
than 325,000 entrepreneurs, executives, managers and investors. The Council
includes chambers of commerce, trade associations, and groups representing
small business, investors, microenterprise, social enterprise, green and
sustainable business, local living economy and women and minority leaders.
ASBC informs and engages policy makers and the public about the need and
opportunities for building a vibrant and sustainable economy. More
information at www.asbcouncil.org.